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Friday, July 21, 2000

MP3.COM LOSES SPIEGEL

Ex-Milken Financier Off To Greener Pastures?
March 10, 2000

MP3.com announced today that Executive Vice President Tom Spiegel has left the building. Spiegel, former cronie of Michael Milken from the go-go ’80s Drexel Burnham days, was responsible for business development and MP3.com’s deals transactions groups. According to the company, President/COO Robin Richards will assume Spiegel’s duties.

Though MP3.com’s statement indicated that Spiegel is leaving to "pursue other business interests" and Chairman/CEO Michael Robertson waxed rhapsodic about his contributions ("We have benefited greatly from Tom’s many contibutions"), the sudden departure begs the question of whether MP3.com’s currently embattled position--the company’s stock has sagged badly and it is contending with a lawsuit filed by the RIAA--hasn’t bred friction among the company’s executive ranks.

At presstime, shares in MP3.com were down 13/16 to 23 3/16.

 
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